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Receipt and Deposit of Funds Operating Procedure 210.01

Receipt and Deposit of Funds Operating Procedure 210.01
Johnson County Community College
Series: 200 Administrative Services
Section: Accounting and Auditing

Cross-Reference: Accounting and Reporting Policy 210.00

Applicability: This Operating Procedure applies to all Johnson County Community College (“JCCC” or the “College”) employees involved in receiving or depositing funds on behalf of the College.

Purpose: The purpose of this Operating Procedure is to establish procedures for the receipt and deposit of funds by the College and its employees in a manner that will, in accordance with applicable laws, safeguard the College’s receivables and provide privacy for the College’s patrons.

Procedures:

I. General Receipts and Deposits by College Departments

Prior to accepting any deposits, College employees shall contact the Bursar’s Office to review the processes established for handling College funds.

All funds must be deposited on the same day they are received, unless the Bursar’s Office has approved for the department to hold receipts overnight, in which case the funds must be deposited within one (1) business day of receipt. Departments located off the main campus must have their deposits couriered to the Bursar’s Office. All other departments must deliver deposits to the Bursar’s Office in person. Payments and deposits of any kind shall not be sent through campus mail.

When holding deposits overnight, the deposits must be kept in secured storage. All deposits must be accompanied by supporting documentation. Employees should consult the JCCC Police Department regarding provision of a security escort when warranted.

All check items received for deposit must be restrictively endorsed with a Bursar’s Office provided endorsement device.

Upon acceptance of payment in person, College employees must offer a receipt to the person making the payment to the College. Only cash and checks can be received by College employees as payment, unless other methods of payment are approved by the Bursar’s Office.

II. Receipt of Tuition and Fee Payments

Tuition payments for credit courses shall be accepted exclusively by Bursar’s Office employees. No other employees are authorized to accept such payments on behalf of the College. Tuition payments are accepted by Bursar’s Office employees in the Bursar’s Office, in designated drop boxes (checks only), or via the College website for electronic check, credit and debit card transactions.

Continuing Education fee payments for class registration may be accepted online and by Continuing Education Registration employees.

Faculty members and other non-authorized employees shall not accept tuition or fee payments and should direct individuals to the above listed channels for making a payment.

III. Receipts and Deposits by Student Clubs and Organizations

College recognized student clubs and organizations requiring a cash box for fundraising or other activities shall request a cash box through the Office of Student Life. The Office of Student Life will coordinate such requests with the Bursar’s Office and provide the cash box to the student club or organization. Student club and organization funds must be turned into the Office of Student Life daily and the Office of Student Life will deposit funds with the Bursar’s Office within one day of receipt.

IV. Receipts and Deposits by the JCCC Foundation

JCCC Foundation receipts and deposits will be processed by the JCCC Foundation.

V. Credit and Debit Card Processing on Campus

Only designated areas at the College may accept credit and debit card payments. All employees in these areas must complete required training prior to processing credit and debit card payments. All credit and debit card transactions must be processed through an approved PCI-DSS compliant payment gateway. Approved payment gateways will be determined in consultation with the Bursar’s Office staff.

Credit and debit card payments may not be accepted via email, phone, or any other non-authenticated means.

Vi. Questions

Any questions regarding the receipt, deposit or processing of College funds shall be directed to the appropriate Bursar’s Office staff.

Signature on File in Policy Office
President

Related Links: Ways to Pay Tuition

Date of Adoption: 02/16/2012
Revised: 07/21/2016